The invention relates to an amphoteric ionic polymer water base fracturing fluid thickening agent and a preparation method of the amphoteric ionic polymer water base fracturing fluid thickening agent, and belongs to the technical field of propping agent fracturing fluid used for oil and gas reservoir volume increase and injection increasing measures. The amphoteric ionic polymer water base fracturing fluid thickening agent is prepared through copolymerization of alkyl group acrylic amide, acrylic amide, 2-acrylic amide group-2-methyl propane sulfonic acid sodium aqueous solution, cationic monomers, vinyl monomers and polymerizable surface active agent monomers. The amphoteric ionic polymer water base fracturing fluid thickening agent and the preparation method of the amphoteric ionic polymer water base fracturing fluid thickening agent have the advantages that raw materials used for the amphoteric ionic polymer water base fracturing fluid thickening agent are all industrial products, purification treatment is not needed before a reaction, a complexing agent is added so that polymerization of the complexing agent and an initiating agent can be initiated at an appropriate temperature, and the preparation technology is simple; due to the fact that the surface active agent monomers are added, an obtained polymer has a hydrophobic association function and is higher in shearing stability, easy to dissolve, free of pollution and harm and good in sand carrying performance; and the amphoteric ionic polymer water base fracturing fluid thickening agent can be resistant to the high temperature of 180 DEG C, is suitable for fracturing of high temperature strata, has high shearing-resistant performance to meet the requirement of high-flow fracturing construction, has high sand carrying performance and no-residue performance, and causes no harm to reservoir strata.